By Benjamin Horney (August 24, 2017, 3:34 PM EDT) -- A consortium featuring Western Digital Corp. will offer to pay 1.9 trillion yen ($17.4 billion) for Toshiba Corp.'s memory chip business, according to a Thursday report from Reuters. According to the report, the offer will be composed of 150 billion yen's worth of convertible bonds and will not include a provision for the buying group to obtain voting rights in the business. The consortium also includes KKR & Co. LP, Innovation Network Corp. of Japan and Development Bank of Japan, each of which will contribute 300 billion yen to the proposal. The report comes one day after rumors that Toshiba was refocusing on plans to sell the business to Western Digital after hitting a snag in discussions with a Bain Capital-led group. The saga over Toshiba's memory chip business has been ongoing for months....
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